Just like overambitious parents fussing over what their baby would grow up to be, the world is speculating about the future of the famous Casa Casuarina. The mansion once belonged to late fashion mogul Gianni Versace, founder of couture brand 'Versace,' and was sold to VM South Beach LLC for $41.5 million in an auction held September.
The Versace mansion's transformation is now a major topic in the real estate segment as the group that bought the mansion is controlled by owners of the Jordache Enterprise, the famous apparel company, which also runs a few hotels in America.
According to the Huffington Post, the new owners had been considering several options. One of the proposals included converting the mansion into a retail space complete with Apple and Victoria's Secret outlets. However, since the option of converting the mansion into a luxury retail space wasn't well-received by the locals, the plan was shelved.
CBS Miami went around asking people what they would like the place be converted into and found several options. While one of them said he would turn it into a 'studio', another suggested making it an exclusive 'Versace Store'.
In the latest rounds of speculations, the Nakash family (owners) are hoping to turn it into a museum dedicated to the late designer, reports The Real Deal. They have also considered turning the place into a luxury hotel or making it a part-retail and part-exhibition center. However, plans still remain uncertain.
"We don't have any definite plans yet because it's brand new. We have lots of ideas. An exhibit or a museum is one idea. We bought it because it's magnificent, iconic and part of the history of Miami," Jonathan Bennett, Nakash real estate director, told the South Florida Business Journal.
Commenting on the other plans, Bennett added:
"These are all preliminary ideas."
Many people think converting the place into a museum is a good idea as the public has always admired the residence from the outside. If the place is turned into an exhibit hall, people will get access to the interiors too. Whatever the decision, Bennett assures that the place will not be razed down.
The Casa Casuarina is one of the most elaborate mansions of the country. It was only an ailing apartment building when Versace purchased the structure in 1992 for $2.9 million. He then renovated the place to its current glory, spending $33 million on it.
Read more on the property, here.
